Lucid Group (NASDAQ:LCID) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America cut Lucid Group from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Redburn Atlantic cut shares of Lucid Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.50 to $1.13 in a research report on Monday, February 24th. R. F. Lafferty upgraded Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Monday, November 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3.00 price target on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.69.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.15 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.26 and a current ratio of 3.71. The stock’s fifty day moving average is $2.87 and its 200 day moving average is $2.93. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The firm has a market capitalization of $6.48 billion, a PE ratio of -1.60 and a beta of 0.97.

Hedge Funds Weigh In On Lucid Group

Several large investors have recently added to or reduced their stakes in LCID. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group during the fourth quarter worth approximately $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group in the fourth quarter valued at approximately $30,000. Proficio Capital Partners LLC bought a new position in Lucid Group in the fourth quarter valued at approximately $31,000. DRW Securities LLC acquired a new position in shares of Lucid Group during the 4th quarter worth about $31,000. Finally, First National Corp MA ADV bought a new position in shares of Lucid Group in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.17% of the company’s stock.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.